Performant Financial Corp (NASDAQ: PFMT) has seen a decline in its stock price by -0.37 in relation to its previous close of 2.69. However, the company has experienced a -2.90% decline in its stock price over the last five trading sessions. Seeking Alpha reported 2024-03-12 that Performant Financial Corporation (PFMT) Q4 2023 Earnings Call Transcript
Is It Worth Investing in Performant Financial Corp (NASDAQ: PFMT) Right Now?
PFMT has 36-month beta value of 0.10. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 2 as “hold,” and 0 as “sell.”
The public float for PFMT is 65.92M, and currently, short sellers hold a 1.13% ratio of that float. The average trading volume of PFMT on April 10, 2024 was 215.12K shares.
PFMT’s Market Performance
PFMT stock saw a decrease of -2.90% in the past week, with a monthly decline of -10.67% and a quarterly a decrease of -6.94%. The volatility ratio for the week is 2.37%, and the volatility levels for the last 30 days are 3.65% for Performant Financial Corp (PFMT). The simple moving average for the past 20 days is -6.10% for PFMT’s stock, with a 0.14% simple moving average for the past 200 days.
Analysts’ Opinion of PFMT
Many brokerage firms have already submitted their reports for PFMT stocks, with Lake Street repeating the rating for PFMT by listing it as a “Buy.” The predicted price for PFMT in the upcoming period, according to Lake Street is $8 based on the research report published on December 20, 2022 of the previous year 2022.
Lake Street, on the other hand, stated in their research note that they expect to see PFMT reach a price target of $8. The rating they have provided for PFMT stocks is “Buy” according to the report published on April 11th, 2022.
Craig Hallum gave a rating of “Buy” to PFMT, setting the target price at $10 in the report published on July 07th of the previous year.
PFMT Trading at -6.19% from the 50-Day Moving Average
After a stumble in the market that brought PFMT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -25.76% of loss for the given period.
Volatility was left at 3.65%, however, over the last 30 days, the volatility rate increased by 2.37%, as shares sank -12.13% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -5.30% lower at present.
During the last 5 trading sessions, PFMT fell by -2.90%, which changed the moving average for the period of 200-days by -23.86% in comparison to the 20-day moving average, which settled at $2.84. In addition, Performant Financial Corp saw -14.24% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PFMT starting from PRESCOTT GROUP CAPITAL MANAGEM, who purchase 30,000 shares at the price of $2.61 back on May 10 ’23. After this action, PRESCOTT GROUP CAPITAL MANAGEM now owns 15,793,291 shares of Performant Financial Corp, valued at $78,300 using the latest closing price.
Stock Fundamentals for PFMT
Current profitability levels for the company are sitting at:
- -0.05 for the present operating margin
- -0.05 for the gross margin
The net margin for Performant Financial Corp stands at -0.07. The total capital return value is set at -0.07. Equity return is now at value -9.10, with -6.90 for asset returns.
Based on Performant Financial Corp (PFMT), the company’s capital structure generated 0.06 points at debt to capital in total, while cash flow to debt ratio is standing at 0.5. The debt to equity ratio resting at 0.07. The interest coverage ratio of the stock is -3.11.
Currently, EBITDA for the company is 0.58 million with net debt to EBITDA at -2.67. When we switch over and look at the enterprise to sales, we see a ratio of 1.8. The receivables turnover for the company is 3.95for trailing twelve months and the total asset turnover is 1.15. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.21.
Conclusion
To put it simply, Performant Financial Corp (PFMT) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
